PROPERTY MANAGEMENT COMMERCIAL AND RESIDENTIAL (Washington, DC)

PROPERTY MANAGEMENT COMMERCIAL AND RESIDENTIAL

Maria Elena Lopez Accountant. Preparation Service Prices Start at 50.00 If you have tax problems give us a call. I offer excellent representation and services includingtax collection bank levy wage levy and seizure defense.I offer electronic tax preparation of 990 non profit charitable taxes for 501(C)(3) s 1040 individual self employment household nanny taxes 1041 706 estate and trust taxes 1065 partnership and limited liability company taxes 1120 corporate taxes and sales taxes Current past years dating to 1983 secure old refunds Amendments IRS prepared returns Abatements Remove old tax liens Offers in Compromise and Payment Agreements Tax and Accounting Audits innocent & injured spouse Research credits expenses deductions & capital gainsIncorporation of businesses & charitable non profit organizations for child care centers churches etc4416 Georgia Avenue NW Washington DC 20011 (202) 882-0935. Fax (202) 248-6169. Email maelenalopez1(at)yahoo.com Property Management TeamMaria Elena Lopez LLC has been a DC in multifamily property management of our success is our people.Our executive team possesses an unparalleled wealth of experience depth of subject knowledge and professional discipline and is thoroughly dedicated to providing timely practical and innovative solutions to successfully address any real estate challenge. Property Management ServiceWith the Property Management Service we will Perform monthly rent collection Provide monthly Owners Statement Provide 24 7 emergency service Take all maintenance requests Take all tenant calls and answer tenant s questions Perform property inspections including move in pre-move out move out And all other property inspections Send (or serve) all required notices Perform regular comparable market analysis on property to assure maximum rent amount Perform evictions Coordinate with home warranty companies (if applicable) Make bill payments (upon request) Coordinate with service professionals (Gardener pool service maintenance men etc.) And when necessary provide them access to the Premises Prepare property for leasing Coordinate access with tenants for repair work and property showings Property ManagementThe Maria Elena Lopez LLC Customized and exceptional service24 7 maintenance hotline and repairs7 day a week property showingsTeam members have professional Property Management designationAggressive marketing techniques Timely and responsive communicationsPro-active maintenance Weekly owner reports Accurate and timely owner distributions and statements Thorough property inspectionsEnforcement of lease agreementsFrequent Owner and Resident surveys to measure service satisfactionMaria Elena Lopez LLC was founded on the Principle of Service Beyond Expectations . This founding Principle extends to every aspect of property management and leasing and into our extensive community involvement. As one of the leading property management firms in the Bay Area we have earned an excellent reputation for providing professional cost-effective property management services. From single-family homes to extensive multi-unit apartment complexes your income properties are important assets that deserve the best management. The experienced Advent Properties Inc. team works hard to retain tenants maximize your rents control expenses enforce your leases and proactively maintain your property. Our long-term relationships with reputable local vendors provide you with efficient quality work at affordable prices. Reliable and unparalleled service to you and your properties is our top priority. With personalized consultation timely communications and attention to detail the result is an ownership experience that is stress free.Experience the Maria Elena Lopez LLC today. Call us to schedule a consultation with our staff Contact us at 20-882-0935 or email maelenalopez1(at)yahoo.com to discuss how we can increase your net operating income quickly lease out your vacant units and proactively manage your important residential income properties.Management Review of all lease files to make sure current forms are used to limit liability on the owner.Monthly Rent Collection Deposit.Monthly Statement of income and expenses.Handle all Tenant phone calls for repairs complaints.Schedule supervise all maintenance of the property.Schedule inspections of each unit every six months.Rigid enforcement of Federal State Local laws as they pertain to the Tenant.Strict enforcement adherence of the Lease Agreement.Frequent site visits to make sure property is running smoothly.Management services as requested.Add on Services EvictionGuard (SM) a new service from Maria Elena Loperz LLC is a low-cost way for Owners of rental properties to minimize exposure to attorney s fees in the event that an eviction is unavoidable due to the Tenant s non-payment of rent. Please contact us for further details Property Lease-Up Detailed customized write-up of property i.e. surrounding area neighborhood & amenities unit and lease contact details.Customized Rental Standards.Customized House Rules.Research of Rental Market for Competitive Pricing.Custom pictures posting of pictures on various web based rental services sites.Posting of property details on various web based rental services sites.Field all email and phone calls in regards to property questions showings.Availability from 9 00 am to 6 00 pm 7 days a week to professionally show the property to potential tenants (Four Leasing Agents to show properties quickly).Thorough Professional Cleaning of the Unit (additional cost of 35 per hour).Screen potential Tenant(s) Fico Score Credit Report Court Record Search (for any Unlawful Detainers).Professional signing of lease 9 to 11 mandatory disclosure statements copy and explain CC& R s.Thorough explanation to the tenant of owners expectations house rules. Customizable management plans to meet each owner s needs.MANAGEMENT LEASING SERVICES AND FEESCommercial and Residential Property ManagementFull Service Property ManagementOur Routine Property Management Services & Basic Property Management Fees generally include Personalized bank account. Collection of rents into a bank account specifically opened for you. All clients are signatory on their own checking and saving accounts. We do not use a trust account for regular property management clients A client s money is always in their separate bank account.Timely payment of fees such as property taxes insurance and debt service based upon cash flow.Timely payment of all vendor service invoices based upon your cash flow.Owner distributions monthly quarterly semiannually or on any schedule set by you.Complete double-entry accounting services (not merely bookkeeping) using GAAP (generally accepted accounting practices or principles).Preparation of GAAP financial statements balance sheet income and expense statement aged payables and receivables deposit reporting and vendor payment list or check register based upon cash or accrual accounting methods whichever is appropriate for you.Monthly reconciliation of all owner bank accounts.Monthly property management reporting including a rent roll security deposits and vacant units.End of Year reports for your CPA.Vendor referrals.Coordination of routine building and unit maintenance and repair.Routine tenant relations and correspondence.Use of all LPG custom forms at no additional charge.Reasonable modifications of LPG forms at no additional charge.Lease preparation and move-in. (May be additional charge.)Monthly site visit or drive-by visit.Additional Fee-for-Services IncludeAsset management functions (e.g. loan and insurance procurement).Complex resident problems.Coordination of legal case or matters.Insurance claim processing.Rent Board Petitions preparation or representation.Rent Board Appeals.Complete payroll services and employee oversight when required.Vendor 1099 reporting when required.Residential Lease Renewals with Federally mandated annual lead notice & documentation of same.Annual Rental Increase Audits Rental Charge Account Reconciliation Security Deposit Interest Payment Audits.Sub tenancy documentation (to protect future rights to unlimited increases at turnover) and sub tenant application processing.Emergency site visits and repair work oversight and coordination.3rd Party vendor work Repairs and maintenance (such as locksmith plumbing painting electrical etc.).Janitorial services.Coordination of contractor improvements (contract RFP bids negotiation documentation review and standardized contract addendum for Owner s protection are included).Building renovation contractor oversight and management.Insurance claim processing and coordination of insurance repair work.Quarterly and Annual property inspections with contractor.Annual unit inspection.Annual vender insurance confirmation and documentation.Leasing of rental unit when no resident manager in place.Pre-move-out inspection(s) when requested by resident.Marketing Support and Social Media promotion of vacant units.Vacation back-up of on site employees.Any items not included in Routine Property Management Services.Set-Up ChargesResidential Set-up Charges02-10 units 75011-20 units 100021-30 units 150031-40 units 250041-50 units 3500051-075 units 4 500076-100 units 5 000101-150 units 6 500151-300 units 7 000301-500 units 10 000 25 per vendor (includes insurance verification)Commercial Set-up Charges 25 to 100 per tenant 25 per vendor (includes insurance verification)Monthly MinimumsFirst Building - 300Second Building - 185Min. Monthly per Residential Unit - 75- 100 per unit or percentage of collected rent whichever is greaterMin. Monthly per Commercial Unit Suite - 100 per tenantMin. Monthly per Commercial Sq. Ft - 0.10 per square footCommercial or Industrial Property - Typically 3-5%Residential Property 2-4 Unit Property - 125 per unit or Typically 6%Residential Property 5-15 Unit Property - 110 per unit or Typically 5.5%Residential Property 16-99 Unit Property - 95 per unit or Typically 5.25%Residential Property 100 or More Unit Property - 85 per unit or Typically 5%Single Family Home - 250 or Typically 10%Leasing ServicesLeasing services are provided and charged for when there is no on-site manager No leasing fee is charged when there is an on site manager. A fee to reimburse the company for marketing and advertising support services as well as the costs related to professional lease documentation and review are charged. However these charges are always less than the cost of a leasing commission thereby saving the owner money.Lightner Property Group uses top services to research current rental rates and do a unit analysis for each unit that is marketed by Lightner Property Group. This ensures that rental rates that are set are both aggressive yet feasible.PROJECT MANAGEMENTAt Maria Elena Lopez LLC General Contracting our Construction and Project Management Division handles assignments ranging from routine capital items to major construction projects. Due to our national reach and volume of construction projects relationships with material suppliers as well as national and local vendors are leveraged to provide the most cost-efficient pricing on all projects. We leverage this network of construction professionals to control and coordinate with trusted subcontractors to ensure that each project is completed in a quality manner on time and within budget. What We OfferProject management from budget development and pre-construction through project closeout including vendor selection coordination of material procurement negotiation and administration of construction contractsValue engineering solutions to maximize return on investmentProject-specific forensic investigation and preparation of specific design-and-scope of work documents and bid packages for items such as Building facade roof window system cladding flashing and exterior coating repairs and replacementConcrete and asphalt repairs and replacement landscaping repairs and replacement fencing and drainage collection systemsSite amenities such as swimming pools and recreational facilitiesMobilization of emergency responses to fire flood and hurricane damage. Coordinate all repairs and reconstruction efforts to minimize negative impact to property operations and income. Coordinate all environmental clean up such as lead and asbestos-containing materials in compliance with federal and local regulationsCoordination of site-specific surveys for energy efficiency lighting water mechanical electrical and plumbing systems automation and consumption management with the goal towards revenue enhancementCoordination of site-specific code compliance surveys such as asbestos and lead abatement O& M manuals and compliance with Americans with Disabilities Act (ADA) requirementsYardi real-time web-based property management tailored to meet clients reporting requirementsAccounting Cost Control so each client receives a clear and realistic schedule of anticipated expenditures and bank drawsIVESTMENTMaria Elena Loperz LLC clients enjoy expert investment analysis services. Our professional teams analyze the condition of owners assets through exterior common area and interior unit inspections. We provide lease audits financial audits and coordination of all third-party environmental engineering and other consultants. Our inspections also include evaluation of compliance with American Disabilities Act requirements.Fact Finding conducting interviews with existing on-site staff about ongoing or past problems collecting the history of any type of work or maintenance and reviewing available service and work order records for the past 12 monthsPhysical Inspection inspecting building exteriors and common areas using professionals Construction Management DivisionNew Construction reviewing all warranties performing an inspection and compiling a list of all punch-list items covered under warranty Violations - contacting local fire marshal and building department code enforcement and compiling any outstanding building code or life safety violationsSpecialty Consultants - engaging coordinating and managing the activities of outside specialty consultantsDetailed Unit Inspection physically inspecting 100% of unitsLease File Audit auditing 100% of leases and comparing to the rent-rollPro Forma Budget preparing a detailed year-one operating budget based on comparable properties and the specific property inspection findings of Operations Team preparing comprehensive budget estimates for each identified condition including immediate needs short- medium- and long-term capital and scheduled maintenance expenditure by Construction Management TeamMarket Survey performing a detailed market survey of all properties in the competitive set overseen by Operations and Marketing teamsComprehensive Due Diligence Report preparing a complete report including all sub-reports and findings in both an electronic and bound formatDue Diligence Team utilizing in-house due diligence team which is specially trained and experienced to handle these assignments on short noticeMULTIFAMILY PROPERTY MANAGEMENTWhat We DoMaria Elena Lopez LLC provides multifamily property management services for approximately 30 000 units in major markets across the United States. We are primarily contracted by institutional owners lenders and special servicers and manage all levels of apartment communities.Maria Elena Lopez LLC and the senior management team have developed a strong client list and relationships with many institutional owners asset managers and financial institutions.Our diverse management skills allow us to manage class-A high-rise buildings to smaller Class-C garden-style communities and everything in between. Our experienced and professional teams ensure that your assets are in the best of hands.We have the capabilities to manage multiple types of assets including High-riseAffordableStudent LivingSenior LivingREO ReceivershipLease-upMaria Elena Lopez LLC has developed a sophisticated National Operating Platform to assist our multi-family property management activities. This platform includes features such as advanced systems programs reporting functionality and utilizing high tech tools from the best vendors in the industry. Our operating platform combined with our hands-on entrepreneurial and locally relevant approach to real estate management allows us to deliver the best quality service to our clients.Full Service and Support Marketing AccountingLeasingI. T. Business Analytics Learning and Development Human Resources Risk Management Construction and Project Management Services Legal Services PROPERTY MANAGEMENT SERVICESWe Specialize in the Management of Single-family homesDuplexes Triplexes FourplexsCondominiumsApartment buildings s of all sizesLeasing Only ServicesAll of our leasing agents are licensed We aggressively market your property on multiple websitesWe personally show your property until it is rentedWe run credit criminal and background checks on potential tenantsWe draft and execute the leases with the tenantsWe collect all monies in certified funds prior to giving the tenant possessionWe do an extensive walk through with the tenants and take picturesFull Property ManagementOur full service management is a comprehensive service starting from the leasing and screening of tenants to financial record keeping and bill paying. We make owning your property simple and only require you to read your monthly statement and receive your monthly check. In addition to all of the services described above in the Leasing Only Services we also provide these additional services to our full management clients Monthly Rent Collection (Tenants can pay rent online)Property Supervision and Frequent Inspection (one of our Property Managers is certified to perform the city county yearly rental inspectionsServe tenant notices (3 Day Pay or Quit Change of Terms Violation etc.)Management of any maintenance issues that arise of you propertyOn call 24 hours a day for maintenance emergenciesPayment of property bills (HOA s Mortgages Insurance Etc.)Rents deposited directly into your account every monthMonthly and year end statements provided onlineVendor supervision (Pool Landscaping Etc.)MAINTENANCE AND REOAIRSOur technicians are available for Anything Anywhere Anytime . One of the reasons we are able to live by this promise to our clients is because as a company we hold our own contractors license. This means we have immediate access to our technicians and their availability and can deploy them wherever our priority is. On any given day our technicians may be replacing a window in the morning and in the afternoon snaking out a plumbing problem. We also have a broad list of vendors for every type of maintenance request. Due to the wide-ranging requirements for the maintenance of any facility our technicians must be diversified not only in their trade skills but also in their people and communication skills. Our maintenance and repair division operates in not only a response mode but we also provide our customers with proactive services. One of the ways we reach out to our clients to remind them of proactive services is through our monthly Newsletter which is filled with new and insightful information every month for each division in our company (not to mention monthly discounts for our readers ) When a tenant sends in a maintenance request we send out a vendor for that issue as soon as possible. We strive to have the maintenance work performed within 24 hours of the call. For emergencies each property manager has an emergency cell phone that is always operating. All of our property managers can be reached 24 hours a day weekends and holidays included. If the tenant causes the issue for example a backed up toilet due to a child s toy the tenant would be charged for that bill. In addition if there are vendors that an owner would rather use we would be more than happy to accommodate those requests.Our maintenance staff will help you every step of the way.ACCOUNTING AND REPORTINGAccount Access for Owners As your asset manager it is our job to ensure your bottom line is protected. Burmaster Real Estate offers our owners a full accounting online portfolio of their investments and rental properties in an environmentally clean way. With our property management software system we run a virtually paperless office This innovative system allows owners to log in to their portals and view their accounts (think of online banking for the property management account ). The information contained in your portal will ensure that you the owner have complete visibility into and control over the financial performance of your property. The following items are available to our owners within their personal portals Update contact informationReal-time threaded conversations with property managers (along with email alerts)View and approve work ordersView bills and attached invoicesAccess owner statements (current and past)Make electronic contributions to the portfolio balanceRun real time reportsAccess shared documents (ie ten ants leases addendums etc)Rental Income Tenants may pay rent via US postal mail via online account or by walking into the office (rent is due on the 1st of each month and late after the 5th). Owners may receive funds by US postal mail or via direct deposit. Owner funds are dispersed between the 15th and 25th of each month. Owners receive a 1099 form at the end of each year for tax preparation.One of the best features of Property Ware is just as owners can transfer money into their portfolio balance electronically Property Ware allows US to transfer money into owners bank accounts No more waiting to receive checks then waiting for checks to clear at the bank - we can automatically deposit funds into selected accounts Reporting Our reports are sent out monthly (preferably via e-mail) to our owners between the 10th and the 25th of every month. Reports include cash flow expense report and owner statements. We are also able to include rent rolls vacancy reports delinquency reports and pretty much any other report you could possibly want Our goal at Burmaster Real Estate is to service every one of our owners needs as their management company and to provide top notch customer serviceAt the end of each year we publish a year-end statement. Our current Property Management clients find our accounting practices to be very convenient and our statement easy to read and understand.Our accounting department is available to answer any accounting question you may have about any income or expense related question.MAEKETING AND LEASINGMarketing AdvertisingBurmaster Real Estate has several types of free advertising methods. Our company website located at www.BurmasterRealEstate.com has an up to date vacancy list at all times and receives the majority of our traffic on rental inquiries. All vacant properties are placed on additional advertising websites such as Move.com Postlets.com and Craigslist. org CSUS.edu SNR Classifieds plus many many more. Signage is placed in front of all vacant properties to generate interest. Also our office traffic receives a high volume of inquiries regarding available properties in the rental market. We prefer to advertise in the Penny Saver or Sac Bee for a small charge by running weekly ads for vacant properties if properties are having a harder time being filled. We try and help each and every person find what he or she desires. We take full advantage of our large client base and excellent reputation as word of mouth is one of the best advertising tools availableTenant ScreeningThe following is the tenant screening process The process begins after the tenant turns in an application to rent.Credit historyCriminal background checkIncome verificationRental historyPrior eviction actionsLeasesWe recommends a one-year lease on all properties. However we do provide service which best meets the owners needs. If an owner would rather secure a 6-month or a month-to-month lease we are more than happy to accommodate this request. The reasoning behind a year lease being signed is to avoid turning a unit and have a renter move out two months later and have to turn the unit over again. We ask for an equal value amount of a deposit on each property. Deposit amounts are negotiable on a case by case basis.THE PROPERTY MANAGER Here are some of the specific duties a property manager must perform 1. establish the rental schedule that will bring the highest yield consistent with good economics. 2. merchandise the space and collect the rent. 3. create and supervise maintenance schedules and repairs. 4. if applicable insure independent contractor license status and insurance coverage. 5. set up payroll system for all employees. 6. develop a tenant resident relations policy. 7. supervise employees and develop employee policies including an Injury Prevention Plan. 8. maintain proper records and make regular reports to the owner. 9. qualify and investigate a prospective tenant s credit. 10. prepare and execute leases. 11. obtain decorating specifications and secure estimates. 12. hire instruct and maintain satisfactory personnel to staff the building(s). 13. audit and pay bills. 14. advertise and publicize vacancies through selected media and broker lists. 15. recommend alterations and modernization as the market dictates. 16. inspect vacant space frequently. PROPERTY MANAGEMENT 17. keep abreast of the times and competitive market conditions. 18. obtain and pay insurance premiums and taxes. 19. be knowledgeable about and comply with applicable Federal State and local laws. Rent Schedule In establishing the rental schedule the property manager must make a thorough neighborhood analysis by doing a market survey of rents for comparable buildings. Rent levels generally are established on the basis of scarcity and comparability of values. The manager must know the building thoroughly assess its values objectively then survey all of the competition buildings in whatever limits the manager sets for the neighborhood. The manager must then analyze 1. the character of the buildings and amenities of the neighborhood. 2. economic level family size and age groups. 3. trends in number of occupants per unit. 4. availability of transportation recreation shopping churches and schools. 5. impact of available on-site recreational facilities including parking spaces. 6. the breadth and growth of local industries. 7. population growth trends. 8. personal income range financial capacity and stability of income. 9. growth and expansion of the community. 10. condition of the housing market in terms of inventory on the market sales price range new construction and vacancy. After a thorough analysis the property manager will prepare a rent schedule that will bring the maximum income obtainable consistent with good economics. Merchandising the SpaceAll of the activities relating to property management are useless unless the property manager knows how to effectively merchandise the space available for rent. The most common method of merchandising rental property today is to advertise it on the internet. Other methods include business cards newspaper ads signs on the property radio and television advertising brochures and fliers billboard advertising business contacts and tenant referrals. When a prospective qualified tenant responds to advertising the property manager must make every effort to secure the tenant for the vacant property as advertising can be very expensive along with lost opportunity costs of vacant units. A sound property maintenance program is very important. Rental properties showing the wear and tear of the previous occupants will discourage a prospective tenant. Maintenance and Purchasing Operations The property manager must establish and maintain sound policies for the maintenance of the building and purchasing of supplies and services. However if all of the building s income is used for expenditures leaving the owner no profit the dissatisfied owner will seek the services of another property manager. It is the responsibility of the property manager to routinely inspect the building and know its current as well as deferred maintenance needs. The property manager should have access to skilled specialists for repair and maintenance work unless the resident manager is personally skilled to perform necessary repairs. In either case the property manager must correct the building s repair maintenance problems as soon as they are discovered. It is less expensive to make repairs immediately than to delay action and allow the problem to worsen. Ongoing preventive maintenance to reduce the need for large maintenance expenditures should be the goal of all property managers. This approach makes good sense and ultimately provides more profit for the owner. The property manager must also supervise all purchasing operations with the emphasis on obtaining the best value possible for the owner s money.Tenant Relationships Tenants want to get the most they can for their rental dollar and feel safe in their surroundings. The property manager must set policies which will give tenants the most benefits commensurate with a proper return to the owner. Effort expended for tenant retention will result in more satisfied residents and increased profits for the owner. Here the manager has to use experience and courtesy as well as psychology. Manager as EmployerThe property manager employs almost all the people working on the premises and provides for their instruction and supervision. The manager must know the what how and when of each employee s job. The success or failure of the management operation often depends on the property manager s ability to choose train direct and retain personnel. An effective staff will keep vacancies and maintenance costs at a minimum thus contributing to the project s profitability. Vacancies There are many reasons why a rental space might be unintentionally vacant improper rent required space not ready to rent resident manager not selling effectively an inattentive manager poor resident retention program unappealing facade or public areas no traffic or lookers and suffering a high vacancy factor in the area. Successful managers are continually alert to these factors and make appropriate adjustments in marketing strategies and personnel where indicated. Reports to OwnerThe property manager must set up and maintain proper records making regular reports to the owner that are easily understandable and that cover all operations. It is also recommended that the property manager provide not only a monthly accounting to the property owner but also a detailed annual statement. By means of such annual statements the property manager can assess the fluctuations of income and expense and formulate future rental maintenance and employee policies. EARNINGSManagement fees can be either a flat amount per month a percentage of the gross rents collected or a combination of the two. Property managers usually base their fees on a percentage of the gross rents collected. This may vary from 3 percent on large structures to as high as 20 percent on individual houses or small buildings. In some resort areas with high turnover rates and short terms of occupancy as much as 50 percent of the gross rent is charged as a fee for renting a property. In addition to the fees collected on rentals the property manager frequently receives additional compensation for the renewal of leases and for supervising major repairs or alterations. Salaries for supervisors in a management company resident managers and office building managers depend largely upon local conditions and vary with geographical areas of the country size of the city and the size of the building. Additionally care must be taken to comply with the minimum wage law. Management Contract